BC Tip: Samsung Electronics - Board committee transparency

Samsung Electronics hides its corporate governance pages away, but they contain some unusual, but welcome, transparency on board committee activities

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The Feature

Samsung’s global Investor Relations site, available in English and Korean, has a Governance & CSR section, which contains pages on the company’s six board committees.

Each ‘Committee’ page lists its members, with links to individual biographies; and outlines the committee’s responsibilities and duties.

Unusually, each of these pages – see the Audit Committee page, for example –  has a sub-section called ‘Activities’, which has committee meeting dates, agenda items (along with an indication as to whether each item was approved or not) and the number of committee members present. The information is presented in tables and click-to-expand menus by year, back to 2012.

The Takeaway

Recording committee meeting dates, agenda items and attendance back to 2012 sends a strong message about Samsung’s approach to governance and transparency, and is a level of detail we have rarely seen in corporate governance sections.

The company could go further: agenda points could be explained in more detail (for example, linked to board documentation), and the exact voting results for each motion could be recorded rather than just saying whether they were approved or not. And attendance figures do not reveal exactly which members were present.

The biggest problem for these pages is that they are so hard to find: there is a lot of clicking and scrolling required to find them, especially if users start on their local Samsung sites.

However, despite not being as well signposted or executed as they could be, including board committee ‘activities’ on corporate sites is an idea worth emulating if the aim is to improve the organization’s reputation for transparency.

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